Wednesday, April 12, 2006

Kengen be gone

Today is the closing day of the Kengen IPO period after which, hopefully the share market can go back to normal. Customer service has been poor, if not non-existsent - so a a poem

Kengen be gone
with stockbrokers who change rules
“who told you to write to Kengen IPO A/C?”
“says so on the application form”
“No that’s only for banker’s cheques”
“we are not accepting personal cheques even if you have an account with us”
e-mail’s unanswered
wrong shares bought
resulting in second and third visits to correct these matters
each taking a wasted hour to do anything
fighting for seats with Kenyans who feel too important to queue and demand instant service
because they are not new kengen riff raff
Dealing with kids who have been working for a month
on the basics of Kengen only
nothing beyond
but already over-whelmned
paperwork has piled up
some brokers now have night shifts
to process paperwork
One actually made a shocking move
and changed computer systems
in the middle of the IPO period
but balances did not reconcile
So, Kengen be gone
let's go back to normal
until Sarova, Equity and Scangroup
come calling for the masses again

9 comments:

maitha said...

never knew that the bank man had poetry in him now this is a revelation !
seems I was not the only one irked by the death of services from stockbrokers

bankelele said...

thanks, trying to diversify for 2007 kaybee's

AfroM said...

Ha ha, I like! diversifying for 2007 Kaybees LOL, i was thinking more along the lines of Best Kenyan Blogger 2006 ;)

Ps. I did finally get on the kengen bandwagon, thanks to you and sassy. Asante.

bankelele said...

AfroM Congrats on sucessfully negotiating the minefield that is FD.

nick said...

Afro this has the makings of a Poetic Blog as well

You go boy...behind the financial news lies a poet! ha

Congrats on the nomination!

Ntwiga said...

Impressive.

Poetry from the money man.

Very impressive.

Anonymous said...

I can hardly agree more! Been 'stressed' by this! being the 'beginner group' you mentioned and being out of the country. all in all managed to get my application in by Tuesday, but with still slight hiccup. Bankers chq was in Kengen name though my stockbroker had intructed me to do it in their name. Since I understand IPO's attract no 2% trading fee why was this instruction even issued?? Pls shed light. (it cost me many e-mails and text msgs)
All in all glad its over and i can't thank you enough for your blog

Migz said...

Poetry rotating around a bloated IPO...this has got to be a first anywhere!

DK said...

Wow is all I can say........this is noting but the whole truth about the whole KENGEN scenario.....a friend of mine has harassed me till the last minute,he needed 3k to top up for his share of KENGEN........now back to normal stockmkt life.
DK

LinkWithin

Related Posts with Thumbnails